Elliott Investment Management

Money Moves

As of May 2026: Holds roughly 5% of BP; key driver of restructuring

BP has operated the Gelsenkirchen refinery complex in western Germany since 2002. On March 19, it agreed to sell the 265,000-barrel-per-day facility and its 1,800 workers to Klesch Group, an independent European refiner with a record of buying distressed assets from oil majors. The same day, BP raised its cost-reduction target by another billion dollars to $6.5–7.5 billion by 2027—the second increase in five weeks.

Updated May 30

Money Moves

As of May 2026: Cooperation agreement with Honeywell; board seat secured

Honeywell has been a conglomerate for over a century, bundling aerospace engines, building thermostats, and specialty chemicals under one corporate roof. On March 3, 2026, it filed to register its $17.4 billion aerospace division as a standalone company on Nasdaq, under the ticker HONA.

Updated May 30

Money Moves

As of May 2026: Major PepsiCo shareholder pushing restructuring

For six years, major food companies raised prices relentlessly—snack prices climbed 38% between 2020 and mid-2024. Now they're cutting: PepsiCo announced cuts up to 15% on Lay's, Doritos, Cheetos, Tostitos this week, ahead of the Super Bowl, while General Mills has discounted roughly two-thirds of its North American products.

Updated May 26